ITC on CSR activities

company cannot claim Input Tax Credit (ITC) on CSR activities as CSR activity expenses are not allowable in Incometax.

Hence ITC cannot be claimed.
(Polycab wires
2019 24 GSTL 103 AAR KAR)

GST Annual Return FY 2018-19

CBIC has issued 5 notifications dated 5th May 2020 compiled summary below

  • Notification No. 38/2020 | NIL Return Via SMS & OTP/ EVC for Company.
  • Notification No. 39/2020 | Company under Insolvency.
  • Notification No. 40/2020 | Validity of E-Way Bill.
  • Notification No. 41/2020 | Annual Return and Audit Extension for FY 2018-19.
  • Notification No. 42/2020 | GSTR-3B | Jammu and Kashmir & Ladakh.

GST Update – PMT 09

Form PMT – 09 is available on GST portal. Now, taxpayer can transfer the cash balance available under one head to another head of tax i.e. from CGST to SGST or interest or penalty or vice versa.